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RCBAP Master Policy Acceptable Form of Insurance?

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Is an RCBAP master policy an acceptable form of insurance for a property that is legally a planned unit development (P.U.D.) and not a condo? FEMA guidelines seem to indicate RCBAP's can only be written on condos but we are seeing insurance agents issue these on P.U.D. properties with the insured name being the HOA.

Eligible Insureds
• Insured must be a residential condominium association.
• If the named insured is other than a condominium association, the
insurer must have legal documentation confirming the entity is a
condominium association. Acceptable examples of condominium
association documentation include:
– A copy of the condominium association by-laws; or
– A statement signed by an officer or representative of the condominium
association confirming the building is in a condominium form of
• Insured may be a building owner in a Homeowners Association (HOA)
having a condominium form of ownership. The HOA by-laws require
purchase of flood insurance building coverage for its members.

Ineligible Insureds
• Cooperative ownership buildings.
• Non-condominium homeowners associations.


First published on 06/16/2019

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